"AMP ENERGY INDIA AIMS TO DEVELOP 2 GW OF CLEAN ENERGY CAPACITY IN A SPAN OF THREE YEARS"
We initially focused only on C&I and government projects, as it is a B2B business that requires relationship building, which takes more time. In contrast, the utility-scale business is dependent on bidding and does not require too much time to build.
In the long-term, we do not see any impactbecause our cycle of business is such thatwhen we develop a project and by the time itis commissioned, in the utility sector it isalmost two years and in the industrial sectoralso the timeline is atleast a year.
To implement the huge planned capacity in India, Amp Energy India is backed by a group of institutional investors from Japan, Canada, India and Europe. In fact, in January 2020, LGT Lightstone Aspada announced its plans to invest up to $50 million in Amp Energy’s India unit for a long duration. Its lenders include a host of private and public banks,NBFCs and foreign institutions.
